I was permitted to ask TVA CEO Bill Johnson my complete question during the Friday, Feb. 28 employee forum in Chattanooga. (See question here.) I was even permitted some follow-up questions. The video of the meeting was available live to those with access to the TVA network. TVA’s Communications group told me that a link to the recorded video should soon be made available on the TVA network, maybe Monday in TVA Today. I asked if I could have a link to share with my retiree friends outside of TVA, but so far I have been told that is “not our standard practice.”
In order to protect TVARS members in the event the federal government divests TVA, the TVARS board can clarify in the TVARS rules that COLAs are vested benefits . (See support from Dennis To here .) Time is very critical now that TVA is working with President Obama’s administration on a financial review of TVA which includes the option of TVA being divested from the federal government. (See here .) TVARS could be terminated upon divestiture. It is very important that the TVARS board take steps to safe-guard benefits before this occurs. If system termination occurs while TVARS remains significantly underfunded, TVARS may never be able to achieve fully funded status. Not one of the six other TVARS board members would second the motion I made in June 2012 to clarify that COLAs are vested benefits. Once again, I would be glad to forward any e-mails from you to the entire TVARS board. Please e-mail them to me at ljmuzyn@tva.gov .
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